Bima Sugam India Federation (BSIF), the entity to operate digital insurance marketplace Bima Sugam, has launched the official website (https://bimasugam.co.in) on September 17, taking the Digital Public Infrastructure (DPI) for all insurance-related requirements one step closer to a full rollout of services.
The platform was unveiled by Ajay Seth, Chairman of the Insurance Regulatory and Development Authority of India (IRDAI) in Hyderabad.
Aimed as a unified digital marketplace for life, general and health insurance, Bima Sugam’s features will be rolled out in phases, focusing on security, compliance and scalability. As per the board-approved roadmap, Bima Sugam marketplace will progressively go live with real transactions once insurers and ecosystem partners complete necessary integrations over the coming months.
The one-stop platform for all insurance needs is aligned with the government’s goal of ‘Insurance for All by 2047’ and Prime Minister’s vision of Viksit Bharat 2047.
Read More: Bima Sugam likely to go through another phase of adjustments as governance, funding issues linger
“This initiative will empower policyholders, deepen insurance penetration, and ensure transparency and fairness across the value chain. The launch of the website is an important milestone, and I am confident that with collective industry commitment, the vision of ‘Insurance for All by 2047’—as part of the Prime Minister’s mission of Viksit Bharat 2047—will become a reality,” said IRDAI Chairman Ajay Seth.
Prasun Sikdar, MD & CEO of BSIF said the website would serve as an authentic gateway for the public as well as the industry. “It provides clarity on our vision, governance, and progress, while bringing customers, insurers, and intermediaries together on a common platform. This is the first milestone in a journey that will transform insurance access and transparency for every Indian household,” said Sikdar.
Read More: Here's how Bima Sugam is likely to work when launched
The launch of Bima Sugam website marks a historic step towards making insurance simple, seamless, and accessible to every Indian. "It is proof of what the industry can achieve when we come together, not as competitors, but as collaborators. With the regulator’s vision and the united commitment of all insurers, Bima Sugam will transform India’s insurance landscape and set a global benchmark in digital public infrastructure,” said Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance & Chairman of General Insurance Council.
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